How Much Must Be Invested Today in Order to Generate

question 77

Multiple Choice

How much must be invested today in order to generate a 5-year annuity of $1,000 per year,with the first payment 1 year from today,at an interest rate of 12%?

• A) $3,604.78
• B) $3,746.25
• C) $4,037.35
• D) $4,604.78

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